Question

Multiple choice question

1: Considerable time is required to gather information and make comparison for purchase of

a) Bread and eggs.

b) shopping goods.

c) routine daily purchase.

d) all in the list.

2: A more narrowly defined group , typically a small market whose needs are not being served well has a distinctive set of traits who may seek a special combination of benefit is :

a)Mass market but of smaller town.

b) segment smaller than mass market.

c)Niche smaller than segment .

d) individual market smaller than niche.

3: New idea generation always comes from :

a) lower level management .

b) middle level management.

c) top level management.

d) none in the list.

4: Example of non-durable goods are

a) All in the list.

b) soaps.

c) computers.

d) toothbrushes.

e) Stapler

Answer 1

Answer 1 : Considerable time is required to gather information and make comparison for purchase of SHOPPING GOODS because the consumer spends considerable time and effort gathering information and comparing alternatives before making a purchase. basic or necessary items such as bread and eggs or daily purchase that are available almost everywhere don't need to be take much time and impormation. whereas shopping goods are purchased after proper research by comparing price,quality,and style etc.

Answer 2 : A more narrowly defined group , typically a small market whose needs are not being served well has a distinctive set of traits who may seek a special combination of benefit is  segment smaller than mass market. As it  is the process of dividing prospective consumers into different groups depending on factors like demographics, behavior and various characteristics. Market segmentation helps companies better understand and market to specific groups of consumers that have similar interests, needs and habits.

Answer 3 :New idea generation always comes from OPTION C Top Level Management. from traditional management principles, processes, and practices or a departure from customary organizational forms that significantly alters the way the work of management is performed.Innovation in whatever form follows a power law: For every truly radical idea that delivers a big dollop of competitive advantage, there will be dozens of other ideas that prove to be less valuable. But that’s no excuse not to innovate. Innovation is always a numbers game; the more of it you do, the better your chances of reaping a fat payoff.

Answer 4 : OPTION C Computers because Nondurable goods are any consumer goods in an economy that are either consumed in one use or used up over a short period of time and must be bought again in successive purchases.

Nondurable goods are also called soft goods or consumable goods. Some examples of nondurable goods include:

Food
Laundry detergent or toothbrush
Dish soap
Light bulbs
Paper products like stapler
Clothing
Nondurable goods are the opposite of durable goods, which are not consumed or that yield utility over long periods of time (considered to be over three years).